Abri Credit Union
- Assets
- $378.9m
- Revenue
- $20.3m
- Investments
- $6.1m
- Employees
- 138
- Location
- Romeoville, IL
- Founding
- 12/1949
- Data as of
- 12/2023
- EIN
- 36-2146035
Organization Overview
Abri Credit Union is located in Romeoville, IL. The organization was established in 1949. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Abri Credit Union employed 138 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abri Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Abri Credit Union generated $20.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $16.1m during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ABRI CREDIT UNION IS A NOT-FOR-PROFIT, FULL-SERVICE FINANCIAL COOPERATIVE THAT EXISTS TO HELP OUR MEMBERS SUCCEED FINANCIALLY. WE SERVE RESIDENTS & BUSINESSES IN DUPAGE, WILL & PORTIONS OF COOK COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FINANCIAL SERVICES TO 27,853 MEMBERS, PROVIDED 5,167 CONSUMER AND REAL ESTATE LOANS, MAINTAINED 48,565 DEPOSIT ACCOUNTS FOR THE BENEFIT OF OUR MEMBERS/OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Cedergren President/ceo | Officer | 50 | $412,016 |
Patricia Locke Evp/coo | Officer | 50 | $263,715 |
Colleen Brooks SVP Administration | 50 | $170,880 | |
Kimberly Nichols SVP Member Experience | 50 | $150,272 | |
Jamie Hogue SVP Lending | 50 | $142,835 | |
James Evans VP It/facilities | 50 | $122,740 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Peerless Network Inc Phone System | 12/30/23 | $336,586 |
Fiserv Inc Data Processing | 12/30/23 | $1,528,774 |
Marquis Software Solutions Inc Crm System | 12/30/23 | $311,561 |
Visa Inc Credit And Debit Cards | 12/30/23 | $263,838 |
Synergi Partners Inc Amended Tax Filling Services | 12/30/23 | $254,912 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,785,620 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,785,620 |
| Total Program Service Revenue | $16,315,648 |
| Investment income | $2,221,306 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,076 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,330,650 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $768,244 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,148,813 |
| Pension plan accruals and contributions | $281,554 |
| Other employee benefits | $715,322 |
| Payroll taxes | $426,062 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,292 |
| Fees for services: Accounting | $55,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $533,268 |
| Advertising and promotion | $371,848 |
| Office expenses | $249,243 |
| Information technology | $1,556,578 |
| Royalties | $0 |
| Occupancy | $823,748 |
| Travel | $113,071 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $105,533 |
| Interest | $5,407 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $438,631 |
| Insurance | $122,716 |
| All other expenses | $188,466 |
| Total functional expenses | $16,109,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,246,624 |
| Savings and temporary cash investments | $14,245,061 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $877,769 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $245,367,399 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $961,008 |
| Net Land, buildings, and equipment | $8,637,284 |
| Investments—publicly traded securities | $84,277,998 |
| Investments—other securities | $6,123,592 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,129,097 |
| Total assets | $378,865,832 |
| Accounts payable and accrued expenses | $1,572,541 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,112,540 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $339,380,971 |
| Total liabilities | $342,066,052 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $36,799,780 |
| Total liabilities and net assets/fund balances | $378,865,832 |